San Mateo, CA, April 19, 2007 – Franklin Templeton Limited Duration Income Trust [AMEX:FTF], a closed-end investment company managed by Franklin Advisers, Inc., announced today a dividend of $0.084 per share, payable May 15, 2007, to shareholders of record on April 30, 2007.

Based on the Fund’s net asset value (NAV) of $14.31 at the close of the market on April 18, 2007, the Fund’s dividend represents an annualized yield at NAV of 7.04%. At the Fund’s market price of $14.34 at the close of the market on April 18, 2007, the Fund’sdividend represents an annualized market yield of 7.03%.

Franklin Advisers, Inc., is a wholly owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton Investments.Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series and Fiduciary Trust investment teams. The San Mateo, CA-based company has 60 years of investment experience and approximately $576 billion in assets under management as of March 31, 2007. For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.